First Financial Bank Trust Division Has $6 Million Stock Holdings in Darden Restaurants, Inc. (NYSE:DRI)

First Financial Bank Trust Division reduced its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 2.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 32,134 shares of the restaurant operator’s stock after selling 897 shares during the period. First Financial Bank Trust Division’s holdings in Darden Restaurants were worth $5,999,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in shares of Darden Restaurants during the second quarter worth approximately $27,000. Kimelman & Baird LLC acquired a new position in Darden Restaurants during the second quarter worth $30,000. Wolff Wiese Magana LLC lifted its stake in shares of Darden Restaurants by 1,690.9% in the third quarter. Wolff Wiese Magana LLC now owns 197 shares of the restaurant operator’s stock valued at $32,000 after buying an additional 186 shares in the last quarter. Bangor Savings Bank grew its holdings in shares of Darden Restaurants by 395.0% during the third quarter. Bangor Savings Bank now owns 297 shares of the restaurant operator’s stock valued at $49,000 after buying an additional 237 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of Darden Restaurants during the third quarter worth about $72,000. Institutional investors own 93.64% of the company’s stock.

Darden Restaurants Stock Performance

Darden Restaurants stock traded down $0.18 during midday trading on Thursday, reaching $186.51. The stock had a trading volume of 863,170 shares, compared to its average volume of 1,250,779. The firm has a market capitalization of $21.91 billion, a PE ratio of 21.51, a P/E/G ratio of 1.90 and a beta of 1.31. Darden Restaurants, Inc. has a 12 month low of $135.87 and a 12 month high of $189.18. The company has a quick ratio of 0.22, a current ratio of 0.35 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $170.83 and its 200 day moving average price is $159.45.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Thursday, December 19th. The restaurant operator reported $2.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.03. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.87 billion. Darden Restaurants had a net margin of 9.11% and a return on equity of 49.46%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.84 earnings per share. As a group, research analysts predict that Darden Restaurants, Inc. will post 9.47 earnings per share for the current fiscal year.

Darden Restaurants Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $5.60 annualized dividend and a dividend yield of 3.00%. Darden Restaurants’s dividend payout ratio is currently 64.15%.

Insider Transactions at Darden Restaurants

In related news, CFO Rajesh Vennam sold 7,228 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $181.71, for a total transaction of $1,313,399.88. Following the sale, the chief financial officer now owns 10,262 shares of the company’s stock, valued at approximately $1,864,708.02. This represents a 41.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Melvin John Martin sold 3,000 shares of Darden Restaurants stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $163.30, for a total value of $489,900.00. Following the transaction, the insider now directly owns 12,601 shares of the company’s stock, valued at $2,057,743.30. The trade was a 19.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on DRI shares. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 price target (up previously from $182.00) on shares of Darden Restaurants in a research report on Friday, December 20th. The Goldman Sachs Group started coverage on Darden Restaurants in a research report on Thursday, December 5th. They set a “neutral” rating and a $183.00 target price on the stock. Wedbush increased their price target on Darden Restaurants from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Robert W. Baird lifted their price objective on shares of Darden Restaurants from $180.00 to $194.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Finally, Citigroup lowered their target price on shares of Darden Restaurants from $209.00 to $206.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.44.

Darden Restaurants Company Profile

Darden Restaurants, Inc, together with its subsidiaries, owns and operates full-service restaurants in the United States and Canada. It operates under Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V’s Prime Seafood, and Capital Burger brand names.